Taxation SuiteApps
This release note was updated June 24, 2024.
Following are the 2024.1 taxation enhancements to SuiteApps:
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Legacy Tax SuiteApps
Legacy Tax SuiteApps
Tax Audit Files Enhancements
The Tax Audit FilesSuiteApp includes the following enhancement in 2023.2:
New Tax Point Date Filters in Philippines Reports
Tax Audit Files SuiteApp version 1.88.0 includes a new preference on the Report Preferences page that supports tax point dates for Philippines reports.
For accounts with Philippines subsidiaries, you can find the Use Tax Point Date on the Period Filter subtab of the Report Preferences page. You can set this new preference if you want to use the start date and end date of transactions as tax point dates to generate Philippines tax audit files.
Previously, the SuiteApp only supports accounting periods as filters when generating Philippines reports.
To review or update your preferences for Philippines, go to Setup > Tax Audit Files > Report Preferences. For more information, see Setting Tax Audit Files Report Preferences.
End of Support for Germany GoBD in Tax Audit Files
As of Tax Audit Files SuiteApp version 1.87.0 generating the Germany GoBD Data Extract (GoBD) will no longer be supported. You will not receive additional fixes or updates after the end of support.
To continue generating the Germany GoBD, you must install the Germany Localization SuiteApp. For more information, see the help topic Installing Germany Localization.
International Tax Reports Issue Fixes
The International Tax Reports SuiteApp includes the following issue fixes in 2024.1:
International Tax Reports 3.128.0 Issue Fixes
The International Tax Reports SuiteApp version 3.128.0 includes the following issue fixes:
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You can now successfully save your setup information by clicking Save on the following page and windows:
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Online Filing page
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Tax Filing Setup window
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Formatting window
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EU Sales Filing Setup window
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For Poland VAT report, you can now view adjustment journal entries when you drill down on box 46. Previously, box 46 retrieved adjustment details from box 42 which excludes adjustment journal entries.
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The UK MTD System Notes pagination now shows the complete history of submission details.
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The UK MTD Submit via CSV page now shows the correct submission dates. Previously, some dates resulted to incorrect data formatting after submitting the VAT100 Return report in CSV format.
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The Portugal VAT report is now fixed to recognize comma (,) as a decimal separator when the selected number format on the VAT report is 1.000.000,00 or 1 000 000,00.
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For Luxembourg VAT report, the OS-LU tax code is now included in the computation for the following boxes:
Box
Value
012
Box 454 + 455 + 456
472
Net amount of sales S-LU, R-LU, INT-LU, R3-LU, E-LU, O-LU, MT-LU, ES-LU, ER-LU, EINT-LU, ER3-LU, ESSS-LU, S-LU-16, INT-LU-13, R-LU-7, ES-LU-16, ER-LU-7, EINT-LU-13, ESSS-LU-16, OS-LU
022
Box 012 - 021
For more information, see What goes into each box - Luxembourg VAT report.
International Tax Reports 3.127.2 Issue Fixes
The International Tax Reports SuiteApp version 3.127.2 includes the following issue fixes:
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For South Africa VAT Report, when you click Adjust Return button, box 14A now displays the I-ZA tax code. Previously, the I-ZA tax code is not displayed because tax codes with zero tax amounts are excluded in the adjust return.
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The Tax Reports (International) page can now load over 4,000 tax periods.
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The following saved reports for Belgium and United Kingdom (UK) now rounds off the tax amount total and notional amount total to the nearest two decimal places:
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Purchase By Tax Code (Detail)
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Purchase By Tax Code (Summary)
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Sales By Tax Code (Detail)
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Sales By Tax Code (Summary)
Previously, transaction amounts are rounded off per line before getting the total tax amount and notional amount. This behavior resulted to discrepancies between tax and notional amount totals in the saved reports and country VAT and its drilldown report.
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Withholding Tax Enhancements
The Withholding Tax SuiteApp includes the following enhancements in 2023.2:
Creditable Withholding Tax Codes Update
Starting with Withholding Tax SuiteApp version 1.46.0, the following changes to the creditable withholding tax codes are automatically provisioned to newly created Philippines subsidiary or nexus:
|
Tax Code |
Old Tax Description |
New Tax Description |
Old Tax Rate |
New Tax Rate |
|---|---|---|---|---|
|
WC157 |
Income payments made by the government and government-owned and controlled corporations (GOCCs) to its local/resident suppliers of services other than those covered by other rates of withholding tax - Corporate |
Income payment made by NGAs, LGU, & etc to its local/resident suppliers of services other than those covered by other rates of withholding tax - Corporate |
2.00% |
— |
|
WC515 |
Commissions, rebates, discounts and other similar considerations paid/granted to independent and/or exclusive sales representatives and marketing agents and sub-agents of companies, including multi-level marketing companies if gross income for the current year did not exceed P720,000 - Corporate |
Commissions, rebates, discounts and other similar considerations paid/granted to independent and/or exclusive sales representatives and marketing agents and sub-agents of companies, including multi-level marketing companies if gross income for the current year did not exceed ₱ 3M - Corporate |
1.00% |
5.00% |
|
WC516 |
Commissions, rebates, discounts and other similar considerations paid/granted to independent and/or exclusive sales representatives and marketing agents and sub-agents of companies, including multi-level marketing companies if gross income exceeds P720,000 - Corporate |
Commissions, rebates, discounts and other similar considerations paid/granted to independent and/or exclusive sales representatives and marketing agents and sub-agents of companies, including multi-level marketing companies if gross income is more than ₱ 3M or VAT registered regardless of amount - Corporate |
10.00% |
— |
|
WC640 |
Income payments made by the government and government-owned and controlled corporations (GOCCs) to its local/resident suppliers of goods other than those covered by other rates of withholding tax - Corporate |
Income payment made by NGAs, LGU, & etc to its local resident suppliers of goods other than those covered by other rates of withholding tax - Corporate |
1.00% |
— |
|
WC650 |
On gross amount of refund given by MERALCO to customers with active contracts as classified by MERALCO - Corporate |
— |
25.00% |
15.00% |
|
WC651 |
On gross amount of refund given by MERALCO to customers with terminated contracts as classified by MERALCO - Corporate |
— |
32.00% |
15.00% |
|
WC663 |
On gross amount of interest on the refund of meter deposit whether paid directly to the customers or applied against customer's billings of non-residential customers whose monthly electricity consumption exceeds 200 kwh as classified by other electric Distribution Utilities (DU) - Corporate |
— |
20.00% |
10.00% |
|
WC710 |
Interest income derived from any other debt instruments not within the coverage of deposit substitutes and Revenue Regulations No. 14-2012 |
Interest income derived from any other debt instruments not within the coverage of deposit substitutes and Revenue Regulations No. 14-2012 – Corporate |
20.00% |
15.00% |
|
WI120 |
Income payments to certain contractors - Individual |
— |
5.00% |
2.00% |
|
WI640 |
Income payments made by the government and government-owned and controlled corporations (GOCCs) to its local/resident suppliers of goods other than those covered by other rates of withholding tax - Individual |
Income payment made by NGAs, LGU, & etc to its local/resident suppliers of goods other than those covered by other rates of withholding tax - Individual |
1.00% |
— |
|
WI650 |
On gross amount of refund given by MERALCO to customers with active contracts as classified by MERALCO - Individual |
— |
25.00% |
15.00% |
|
WI651 |
On gross amount of refund given by MERALCO to customers with terminated contracts as classified by MERALCO - Individual |
— |
32.00% |
15.00% |
|
WI663 |
On gross amount of interest on the refund of meter deposit whether paid directly to the customers or applied against customer's billings of non-residential customers whose monthly electricity consumption exceeds 200 kwh as classified by other electric Distribution Utilities (DU) - Individual |
— |
20.00% |
10.00% |
|
WI710 |
Interest income derived from any other debt instruments not within the coverage of deposit substitutes and Revenue Regulations No. 14-2012 |
Interest income derived from any other debt instruments not within the coverage of deposit substitutes and Revenue Regulations No. 14-2012 - Individual |
20.00% |
15.00% |
A new tax code is also included in the latest version of the SuiteApp with the following tax code properties:
|
Tax Code |
Tax Description |
Tax Rate |
|---|---|---|
|
WI110 |
Cinematographic film rentals and other payments to resident individuals and corporate cinematographic film owners, lessors and distributors - Individual |
5.00% |
For existing accounts, make sure to match the tax codes and tax descriptions with Creditable Withholding Tax Code Updates (SuiteAnswers ID: 1014856)
For more information, see Creditable Withholding Tax Codes - Philippines.
Philippines Withholding Tax Form 1601-EQ Update
The Philippine government has mandated changes in the Withholding Tax Form 1601-EQ in accordance with Revenue Memorandum Circular No. 139-2019. The updated 1601-EQ form includes the following changes to these lines:
|
Old Line Number |
New Line Number |
Description |
|---|---|---|
|
— |
24 |
Other Payments Made (please attach proof of payments – BIR Form No. 0605) |
|
24 |
25 |
Total Remittances Made (Sum of Items 20 to 24) |
|
25 |
26 |
Tax Still Due/(Over-remittance) (Item 19 Less Item 25) |
|
26 |
27 |
Add: Penalties 27 Surcharge |
|
27 |
28 |
Interest |
|
28 |
29 |
Compromise |
|
29 |
30 |
Total Penalties (Sum of Items 27 to 29) |
|
30 |
31 |
TOTAL AMOUNT STILL DUE/(Over-remittance) (Sum of Items 26 and 30) |
|
31 |
32 |
Cash/Bank Debit Memo |
|
32 |
33 |
Check |
|
33 |
34 |
Tax Debit Memo |
|
34 |
35 |
Others (specify below) |
Additionally, the form also includes the following updates when you generate a PDF file:
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The Taxpayer Identification Number (TIN) field now supports 5-digit TIN branch codes.
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The Contact Number field supports up to 12 digits.
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The following information now appears in the footnote:
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Username and user ID of the person who generated the report
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Date and time of the report generation
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Software used to generate the report
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For more information, see Withholding Tax Reports - Philippines.
Philippine Withholding Tax Report Quarterly Alphalist Payees and Summary Alphalist of Withholding Tax Update
Withholding Tax version 1.46.0 includes the following updates to the Quarterly Alphalist Payees (QAP) and Summary Alphalist of Withholding Tax (SAWT) update.
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On the Withholding Tax Reports page, in the Reports field, the report name Monthly Alphalist of Payees (MAP) is changed to Quarterly Alphalist of Payees (QAP).
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When you generate a PDF or CSV file, the following information will appear in the footnote:
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Username and user ID of the person who generated the report
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Date and time of the report generation
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Software used to generate the report
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QAP and SAWT reports now also display the first nine digits of the business' tax registration number followed by three zeroes.
For more information, see Withholding Tax Reports - Philippines.
Withholding Tax Issue Fixes
The Withholding Tax SuiteApp version 1.46.0 includes the following issue fixes:
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When accepting customer payments, the following fields now calculate the correct amounts to be paid.
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WH Tax Amount
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Tax Withheld
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Total Amount
Previously, on the Accept Customer Payment page, these fields only show 0.00 when you check the Apply box on the Invoices subtab.
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On the Withholding Tax Reports page, the values in the vendor field now shows the vendor code beside the vendor name. This issue fix lets you distinguish vendors with similar names.
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The Tax Period field on the Withholding Tax Reports page for Forms 1601-E and 1601-EQ no longer displays duplicate periods. Previously, the tax period field lists periods of the same name when the Multiple Calendars feature is enabled.